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How stealth addresses work in Monero

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Re: How stealth addresses work in Monero

#31

Post by nunobrito »

littlecranky67 wrote: post #15
hypeatei wrote: post #11

Earlier quoted context omitted.

The fact that it's delisted from most exchanges because of its privacy features; if it was as traceable as Bitcoin, then the feds would allow it. What I see from these links is that it's not fully "traceable" and more educated guessing via heuristics.

Lightning (A layer-2 network based on Bitcoin) is similarly untraceable as Monero, without being an actual cryptocurrency. Yet the fed doesn't seem to concerned, probably also because few people and institutions understand Lightning, and the fed is not one of them or doesn't want to go against Bitcoin.

It is nowhere near the privacy offered by Monero: https://raphtyosaze.medium.com/privacy-in-lightning-network-...

Re: How stealth addresses work in Monero

#32

Post by kasey_junk »

fluoridation wrote: post #28
kasey_junk wrote: post #18

Earlier quoted context omitted.

Courts, law enforcement and contract law. All of which will take a dim view of using a currency which appears designed wholly to make their function harder.

>Courts, law enforcement and contract law. That's the wrong answer. The existence of tokens predates the existence of government. It's the next step after barter. The correct answer is reputation. A vendor who cheats his customers builds up a bad reputation, and the only way he can keep doing it is by changing customer bases, for example by moving to a different town. Think of the traveling snake oil salesman who mov…

The courts etc are there so we don’t have to create a posse and ride out to find the snake oil salesman. You _can_ have commerce without them but it’s much higher friction. So if a crypto wants me to abandon the existing systems it needs to show it creates less friction.

Re: How stealth addresses work in Monero

#34

Post by nunobrito »

danlugo92 wrote: post #5

Monero is the only real cryptocurrency.

The root of the word "crypto" goes all the way in history as "to hide".

Monero has since many years been the only option worthy of truly being called a cryptocurrency. Doesn't even make sense to use anything where anyone can see all the value in your private wallet and where you are spending them.

The rest should really be designated as "virtual coins" or just call them "casino coins" because that is their use case.

Re: How stealth addresses work in Monero

#35

Post by aaomidi »

ifwinterco wrote: post #16
vintermann wrote: post #14

Earlier quoted context omitted.

Where would the trust come from? I mean the trust that people really do what they say they're going to do in the real world - like ship you the goods, do the work you paid for, don't immediately kick you out of the servers you paid to access etc. A shadow economy doesn't run itself, who's going to stick their neck out to even try to make it work?

Where does the trust come from for transacting in dollars, or Spanish pieces of eight? I'm not saying the monero economy is likely but there's absolutely no reason why it couldn't theoretically happen

I think crypto already exists as a parallel economy. Especially between certain states.

You use monero not to exchange for fiat but, for example, oil.

Re: How stealth addresses work in Monero

#36

Post by aaomidi »

kasey_junk wrote: post #32
fluoridation wrote: post #28

Earlier quoted context omitted.

>Courts, law enforcement and contract law. That's the wrong answer. The existence of tokens predates the existence of government. It's the next step after barter. The correct answer is reputation. A vendor who cheats his customers builds up a bad reputation, and the only way he can keep doing it is by changing customer bases, for example by moving to a different town. Think of the traveling snake oil salesman who mov…

The courts etc are there so we don’t have to create a posse and ride out to find the snake oil salesman. You _can_ have commerce without them but it’s much higher friction. So if a crypto wants me to abandon the existing systems it needs to show it creates less friction.

Crypto’s use case isn’t for the layman. It’s for countries that aren’t aligned with America to have a separate currency system. Doubly useful for bypassing sanctions.

Re: How stealth addresses work in Monero

#37

Post by A4ET8a8uTh0_v2 »

hypeatei wrote: post #11
Anon84 wrote: post #9

Earlier quoted context omitted.

What makes you think Monero is untraceable? - https://arxiv.org/pdf/2408.05332 - https://darkwebinformer.com/chainalysis-successful-deanonymi... - https://www.sciencedirect.com/science/article/pii/S266628172...

The fact that it's delisted from most exchanges because of its privacy features; if it was as traceable as Bitcoin, then the feds would allow it. What I see from these links is that it's not fully "traceable" and more educated guessing via heuristics.

I will admit that as far as signal goes that appears to be a big one.

Re: How stealth addresses work in Monero

#38

Post by miki123211 »

vintermann wrote: post #14
matheusmoreira wrote: post #10

Earlier quoted context omitted.

The idea is to not convert it into fiat. Create a parallel economy where monero is the actual currency, not some intermediary currency. Price things in monero.

Where would the trust come from? I mean the trust that people really do what they say they're going to do in the real world - like ship you the goods, do the work you paid for, don't immediately kick you out of the servers you paid to access etc. A shadow economy doesn't run itself, who's going to stick their neck out to even try to make it work?

Crypto lets you decouple trust from ownership, that's one of its main selling points.

You can have a Visa-like network that supports chargebacks, but design it in a way that the dispute arbitrators cannot seize your money. If you report a transaction, they can either decide to release the money to the merchant or return it back to you, but the contract logic prevents them from doing anything else with that money. If both sides agree that the transaction has successfully taken place, it can be released automatically, despite the arbitrators' wishes.

This is something you can't do in trad fi, so we use laws and legal contracts as "hacks" to make it somewhat possible.

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